Hanoi (VNA) - Vietnamese Minister of Finance Ngo Van Tuan held a working session with his Russian counterpart Anton Germanovich Siluanov in Moscow on September 8 within the framework of the ongoing state visit to Russia by General Secretary of the Communist Party of Vietnam Central Committee and President To Lam.
At the session, the two ministers discussed financial cooperation areas of mutual interest, thereby helping consolidate future cooperative ties between the two ministries, according to the Ministry of Finance.
Tuan briefed his Russian counterpart on Vietnam’s economic situation and development goals, stressing that the top priority in the new era is to achieve the country’s strategic targets for 2030 and 2045.
Vietnam’s economy maintained its recovery trend during the January-August period, with broadly stable macro-economic conditions and continued momentum in production and trade, Tuan said.
Foreign direct investment remained a bright spot, particularly in hi-tech sectors. Registered FDI in the first eight months was estimated at 40.63 billion USD, while disbursed FDI reached an estimated 17.25 billion USD.
Vietnam's trade activity remained robust, with total turnover reaching 770.14 billion USD in the period. Exports stood at 374.84 billion USD and imports at 395.3 billion USD.
On bilateral economic, trade and investment ties, Tuan said two-way trade hit 3.24 billion USD in the first seven months of 2026, up 12% from a year earlier. Vietnam’s exports to Russia totaled 1.33 billion USD, while imports amounted to 1.91 billion USD.
As of August 31, Russia had 244 investment projects worth 996.81 million USD in Vietnam, ranking 28th among 154 countries and territories investing in the Southeast Asian country.
Vietnam, meanwhile, had 19 active investment projects in Russia with total registered capital of 1.64 billion USD, ranking fourth among 88 countries and territories invested by Vietnam. Notable projects include the Rusvietpetro joint venture and TH Group’s dairy farming and agricultural projects.
Tuan highlighted several cooperation areas between the two ministries, including investment, taxation and customs, and hoped that the two sides would make cooperation in these areas more effective.
He also urged the two ministries to foster coordination and share experience in promising areas, including financial markets, private sector development, science - technology, green finance, digital finance and innovation.
According to Tuan, more exchanges and experience sharing between the two ministries would help identify appropriate solutions, including those related to payments and support for trade and investment.
The two ministers reviewed several ongoing financial cooperation areas and discussed emerging obstacles.
Both sides affirmed that they would continue close coordination, clear existing difficulties and boost cooperation in areas of mutual interest, contributing to deeper Vietnam-Russia economic and financial ties./.
